The Manufacturers Life Insurance Company decreased its position in Packaging Corporation of America (NYSE:PKG) by 2.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 171,476 shares of the industrial products company’s stock after selling 3,622 shares during the quarter. The Manufacturers Life Insurance Company owned 0.18% of Packaging Corporation of America worth $19,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in PKG. BlackRock Inc. lifted its position in Packaging Corporation of America by 8,719.3% in the 1st quarter. BlackRock Inc. now owns 13,344,341 shares of the industrial products company’s stock worth $1,222,607,000 after buying an additional 13,193,032 shares during the last quarter. Janus Henderson Group PLC lifted its position in Packaging Corporation of America by 6,234.6% in the 2nd quarter. Janus Henderson Group PLC now owns 597,731 shares of the industrial products company’s stock worth $66,587,000 after buying an additional 588,295 shares during the last quarter. American Century Companies Inc. bought a new stake in Packaging Corporation of America in the 2nd quarter worth approximately $59,914,000. Vanguard Group Inc. lifted its position in Packaging Corporation of America by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 8,238,908 shares of the industrial products company’s stock worth $754,848,000 after buying an additional 445,345 shares during the last quarter. Finally, FMR LLC lifted its position in Packaging Corporation of America by 41.9% in the 2nd quarter. FMR LLC now owns 1,381,644 shares of the industrial products company’s stock worth $153,902,000 after buying an additional 407,702 shares during the last quarter. Institutional investors own 88.06% of the company’s stock.

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A number of research firms recently weighed in on PKG. BMO Capital Markets restated a “buy” rating and issued a $118.00 target price on shares of Packaging Corporation of America in a research report on Friday, August 4th. Jefferies Group LLC restated a “buy” rating and issued a $128.00 target price on shares of Packaging Corporation of America in a research report on Friday, August 18th. Zacks Investment Research upgraded Packaging Corporation of America from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research report on Thursday, October 12th. BidaskClub upgraded Packaging Corporation of America from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, KeyCorp restated a “hold” rating on shares of Packaging Corporation of America in a research report on Thursday, October 12th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $114.10.

Packaging Corporation of America (NYSE:PKG) opened at 117.00 on Tuesday. The stock has a market capitalization of $10.96 billion, a PE ratio of 22.54 and a beta of 1.83. Packaging Corporation of America has a 52 week low of $78.03 and a 52 week high of $119.43. The firm has a 50-day moving average price of $115.18 and a 200-day moving average price of $106.82.

Packaging Corporation of America (NYSE:PKG) last posted its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.05. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.56 billion. Packaging Corporation of America had a return on equity of 27.78% and a net margin of 8.05%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the company earned $1.25 EPS. Equities research analysts predict that Packaging Corporation of America will post $6.04 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 15th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Thursday, September 14th. Packaging Corporation of America’s payout ratio is 48.56%.

In other news, VP Thomas A. Hassfurther sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $117.94, for a total value of $707,640.00. Following the completion of the sale, the vice president now directly owns 155,071 shares of the company’s stock, valued at approximately $18,289,073.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by company insiders.

About Packaging Corporation of America

Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.

Institutional Ownership by Quarter for Packaging Corporation of America (NYSE:PKG)

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